Homegrown Properties Acquires Retail Condo In Downtown Brooklyn For $7.85M
150 Myrtle Avenue, Brooklyn, NY 11201
$7,850,000
$708/SF
Building Size
11,077 SF
Asset Type
Mixed-use
Closing
Apr 7, 2021
AI
A retail condo located at 150 Myrtle Avenue in Downtown Brooklyn has been sold for a price of $7,850,000. The property spans 11,077 square feet, resulting in a price per square foot of $709. The transaction took place on April 8, 2021.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $7,850,000
- Address: 150 Myrtle Avenue
- Market: Downtown Brooklyn
- Buyer: Mark Goris - Homegrown Properties
- Seller: Michael Salzhauer - Benjamin Partners
- Broker: Matthew Marshall - Marshall Real Estate LLC @MRENYC
The buyer of the retail condo is Mark Goris, represented by Homegrown Properties. The seller is Michael Salzhauer, represented by Benjamin Partners. The broker facilitating the transaction is Matthew Marshall from Marshall Real Estate LLC (@MRENYC). The deal showcases the active nature of the commercial real estate market in Downtown Brooklyn.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93